hero-img1

SOP Manual for Direct Health and Medical Insurance Carriers

In: SOP
0 Comments

This SOP article offers a comprehensive report on “Direct Health and Medical Insurance Carriers”. This industry primarily involved in offering medical and health insurance plans or policies to the individuals, where insurance is a deal, that serves financial protection or reimbursement against loses. Rising population, globalization, growing GDP across nation, increasing geriatric population, rising pandemic diseases, and uncertainty of human’s life, these are the major facts, which influence the growth of global insurance carrier’s industry market. Investing in insurance is the one of the safest mode of investment, with low risk and moderate return, where the insurance policy will play a key role in emergency situation. There are n number of policies are provided by various organization, where the concept remains similar but policies and procedure gets differ from each other. Owing to the massive population, Asia-Pacific region dominates the global insurance industry market in terms of revenue generation, where, India and China are the major contributors in this region. Even though this region dominates the global market but still more than half percent of people are failed to insure. Technological advancements especially digital platforms perform a major role in enhancing the industry growth, where they are used for various operations in this industry such as market research, analysing the potential customers, digital marketing, remote payment, and engaging with the customers. According to the survey, 91.5% of global people has applied health insurance, owing to this statement, the global direct health and medical insurance market is rising at steady pace of growth and it expected to increase in future, with a growing CAGR of 4.2%.

Typical Types of Health and Medical Insurance Plan:

  • Individual Health Insurance Plan
  • Family Floater Health Insurance Plan
  • Group Health Cover
  • Senior Citizen Health Insurance
  • Critical Illness Health Cover
  • Super Top-Up Policy

1. Standard Operating Procedures (SOP) Manual for Accounts Department
2.Standard Operating Procedures (SOP) Manual for Finance Department
3. Standard Operating Procedures (SOP) Manual for Customer Service
4. Standard Operating Procedures (SOP) Manual for CRM Department
5. Standard Operating Procedures (SOP) Manual for Credit Department
6.Standard Operating Procedures (SOP)Manual for Treasury Department
7.Standard Operating Procedures (SOP) Manual for Human Resources (HR) Department
8. Standard Operating Procedures (SOP) Manual for Training Department
9. Standard Operating Procedures (SOP) Manual for Learning & Development Department
10. Standard Operating Procedures (SOP) Manual for Administration Department
11. Standard Operating Procedures (SOP) Manual for Front Office
12. Standard Operating Procedures (SOP) Manual for House Keeping
13. Standard Operating Procedures (SOP) Manual for Safety Department
14. Standard Operating Procedures (SOP) Manual for Security Department
15. Standard Operating Procedures (SOP) Manual for Facilities Management Department
16. Standard Operating Procedures (SOP) Manual for Vigilance Department
17. Standard Operating Procedures (SOP) Manual for Legal Department
18. Standard Operating Procedures (SOP) Manual for Information Technology (IT) Department
19. Standard Operating Procedures (SOP) Manual for Sales & Marketing Department
20. Standard Operating Procedures (SOP) Manual for Design & Engineering 
21.Standard Operating Procedures (SOP) Manual for Procurement Department
22. Standard Operating Procedures (SOP) Manual for Production
23. Standard Operating Procedures (SOP) Manual for SRM Department
24.Standard Operating Procedures (SOP) Manual for Supply Chain Department
25. Standard Operating Procedures (SOP) Manual for Warehouse
26. Standard Operating Procedures (SOP) Manual for New Product Development Department
27. Standard Operating Procedures (SOP) Manual for Research and Development  
28. Standard Operating Procedures (SOP) Manual for Quality Department
29. Standard Operating Procedures (SOP) Manual for Calibration Department
30. Standard Operating Procedures (SOP) Manual for Maintenance Department

Industry Process:

In this modern era, owing to the uncertainty of human’s life, insurance is considered as a part and parcel for the individuals. The industry operation starts with applying or issuing policy for the respective person, where the policy holder can pay the policy through installment way. If the policy holder, was under an emergency (that need to related to the policy they applied), then he needs to seek the respective broker or agent for further process. Then, the broker will review the situation and the policy. Finally, after the evaluation the coverage amount will be issued to the respective policy holder or hospital management, and then, the holder can re insure/apply for the new or same policy schemes.


Typical Departments Operated in this industry:

  • Underwriting Department
  • Policy Issue and Administration
  • Claims Department
  • Actuarial and Statistical Department
  • Accounting Department
  • Investment Department
  • Legal Department
  • Audit Department
  • Loss Control Department
  • Agency Department
  • Marketing Department
  • Reinsurance Department
  • Miscellaneous Support Departments

International Standard and Association Regarding this Industry:

Leading Health Insurance companies in the world:

Journals and Magazine Related to this Industries:

SOP Manual for Direct Health and Medical Insurance Carriers

Research By : Udhay Sankar

 

Written by SOP Team

Leave a Reply

    Introduction-to-SOP

    Search form

      Categories

      See all

      Related Post

      Growth Is Just One Click Away

      Don't feel like calling? Just share some details about your SOP Requirements & Fhyzics representative will get in touch with you. Schedule A Meeting with our Manager [Consulting & Certifications]